ProShares Ultra Silver ETF Forecast
ProShares Ultra Silver ETF price ended at $34.23 on Tuesday, after gaining 0.617%.
(Updated on Apr 23, 2024)
The ProShares Ultra Silver ETF price gained 0.617% on the last trading day (Tuesday, 23rd Apr 2024), rising from $34.02 to $34.23. During the last trading day the ETF fluctuated 3.18% from a day low at $33.30 to a day high of $34.36. The price has been going up and down for this period, and there has been a -6.35% loss for the last 2 weeks. Volume fell on the last day by -836 thousand shares and in total, 1 million shares were bought and sold for approximately $44.67 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The ETF lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the ETF is expected to rise 54.84% during the next 3 months and, with a 90% probability hold a price between $49.65 and $61.55 at the end of this 3-month period.
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AGQ Signals & Forecast
The ProShares Ultra Silver ETF holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the ETF giving a positive forecast for the stock. On further gains, the ETF will meet resistance from the short-term Moving Average at approximately $36.42. On a fall, the ETF will find some support from the long-term average at approximately $31.67. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The ETF should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, April 15, 2024, and so far it has fallen -10.84%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for ProShares Ultra Silver ETF
ProShares Ultra Silver finds support from accumulated volume at $34.02 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this ETF is considered to be "high risk". During the last day, the ETF moved $1.06 between high and low, or 3.18%. For the last week, the ETF has had daily average volatility of 3.59%.
Our recommended stop-loss: $32.35 (-5.48%) (This ETF has high daily movements and this gives high risk. There is a sell signal from a pivot top found 6 days ago.)
Trading Expectations (AGQ) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect ProShares Ultra Silver ETF to open at $33.96, and during the day (based on 14 day Average True Range), to move between $32.40 and $36.06, which gives a possible trading interval of +/-$1.83 (+/-5.35%) up or down from last closing price. If ProShares Ultra Silver ETF takes out the full calculated possible swing range there will be an estimated 10.70% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $34.02 (0.61%) than the resistance at $35.66 (4.18%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is ProShares Ultra Silver ETF ETF A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for ProShares Ultra Silver ETF to perform well in the short-term.
Current score: 2.953 Buy Candidate Unchanged
Predicted Opening Price for ProShares Ultra Silver ETF of Wednesday, April 24, 2024
Fair opening price April 24, 2024 | Current price |
---|---|
$33.96 ( 0.779%) | $34.23 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AGQ
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 35.02 | 2.32 % | |
R2 | 34.62 | 1.13 % | ||
R1 | 34.37 | 0.404 % | ||
Current price: | 34.23 | |||
Support | S1 | 33.56 | -1.96 % | |
S2 | 33.31 | -2.69 % | ||
S3 | 32.90 | -3.88 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 36.24 | 5.87 % | |
R2 | 35.73 | 4.38 % | ||
R1 | 35.66 | 4.18 % | ||
Current price | 34.23 | |||
Support | S1 | 34.02 | -0.613% | |
S2 | 33.84 | -1.14% | ||
S3 | 33.19 | -3.04% |
FAQ
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